Self-Employed Residency (start or expand your own-business)
Who is THIS RESIDENCY for?
The Self-Employed Residency Permit is for applicants who wish to start a business in Spain. This permit allows the applicant to officially work and reside in Spain.
Yes, it is possible to apply with your spouse and children who are dependents to obtain Spanish residency.
There are 3 periods of validity: the initial permit is valid for 1 year. On renewal, has validity for 2 years, then a further 2 years and once you have achieved 5 years, you renew your permit to become a permanent resident and move towards obtaining Spanish Citizenship.
You are required to have a business plan and enough funds to set it up and live for the duration of the first period (1 year). The funds will have to be in an account in the name of the applicant. The amount of funds you will need to show will depend on the type of business you wish to start. Generally, we believe that a minimum of around €100,000 will cover the most basic type of business venture. You are also required to have a bank account with enough funds for the duration of your permit. The authorities may also request that you have a rental contract for commercial premises. Finally, you are required to have a clean criminal record in the country where you have lived in the last 4 years. Private medical insurance is not required because as an official worker, you will have social security cover in Spain.
It may take in the region of 45 days to get the required application paperwork ready. It may take between 2 and 6 months to be approved from date of application, depending on the Consulate and the time of the year.
By law, you are required to spend more than 6 months in Spain to be eligible for renewal. If you do not spend this time the authorities may not renew the Spain residency permit although this is not always the case; however, it is important that you are aware that there is a risk of rejection should the authorities detect that you have not been in the country for at least 6 months, either in one period or in alternate periods.